In this article, we will list 6 cheap alternatives to diamonds for engagement rings. If you want to read our discussion about the global diamond industry, go to 10 Cheap Alternatives to Diamonds For Engagement Rings.
6 – Moissanite
Average Price Per Carat: $1800
Moissanite is sixth on our list of the 10 cheap alternatives to diamonds for engagement rings. It is one of the most rare naturally occurring minerals and can cost up to $30,000 per carat. Thankfully, most of the moissanite used in jewelry today is lab-grown, which provides an excellent and cheaper alternative to diamonds. It is often considered a diamond stimulant because of its similarity to the stone. Moissanite, however, has a higher refractive index compared to diamonds, giving it more brilliance and a ‘disco ball’ type of sparkle.
5- Demantoid
Average Price Per Carat: $500
Dematoids are the green variety of andrite garnet and make for an excellent engagement-ring alternative for those who cannot afford a diamond ring. These lesser-known gemstones are valued for their ability to break light into spectral colors (dispersion) as they can exhibit flashes of rainbow.
4 – Zircon
Average Price Per Carat: $300
Zircon is fourth on our list of the 10 cheap alternatives to diamonds for engagement rings. It is known for its high refractive index and flashes of multicolor fire (dispersion). It comes in a variety of colors, including blue, green, yellow, red brown, and colorless, among others. However, one thing to note about this gemstone is that it is rated 6.75 on the Mohs hardness scale. So, it requires significantly more care and maintenance compared to diamonds.
3 – Moonstone
Average Price Per Carat: $250
Moonstone is among the top 3 cheap alternatives to diamonds for engagement rings. It is a beautiful-looking gemstone that is known for its pearly and opalescent sheen. It comes in various colors, including blue, grey, white, white, pink, peach, green, and brown. The most prized moonstones, however, come from Srilanka and India and the blue moonstones are particularly rare and valuable.
2 – Morganite
Average Price Per Carat: $200
Morganite is second on our list of the 10 cheap alternatives to diamond engagement rings. It is a pink to peach colored variety of the mineral beryl, and so shares a mineral family with emeralds. One of the best things about Morganite is that it is relatively more durable than other gemstones with similar prices, as it is rated 7.5 to 8 on the Mohs scale. Some of the sources of morganite include Brazil, Afghanistan, Mozambique, Namibia, the United States, and Madagascar.
1 – Iolite
Average Price Per Carat: $150
Iolite ranks at number one on our list of the 10 cheap alternatives to diamonds for engagement rings. It is also known as cordierite and typically appears in purplish-blue hues with an intense violet-blue color considered most desirable and rare. Historically, it has been used as a substitute for more expensive sapphires. The gemstone is known to display different colors when viewed from different angles.
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